Needham analyst Joshua Reilly lowered the firm’s price target on Digimarc (DMRC) to $10 from $20 and keeps a Buy rating on the shares. The firm is citing multiple compression across the software industry in cutting its price target while also noting that while the company reported Q4 earnings that were generally in line with expectations, the quarter included a decline in annual recurring revenue due to previously announced canceled contracts, the analyst tells investors in a research note.
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